CoreSite Moves Step Closer to Technology Park Conversion in Reston, Va.

The real estate investment trust purchased the property from Brookfield Office Properties in August 2016 for $60 million, according to RestonNow, which first reported news of the approval. The site is currently occupied by four office buildings totaling 315,000 square feet. In four phases of construction, CoreSite plans to repurpose a portion of the structures and demolish the rest to build new data centers and office buildings, roads and parking spaces, according to the firm’s proposal. Reston now first reported news of the approval.

“We are pleased with the opportunity to expand our network-dense, cloud-enabled campus in Reston, through which Fairfax County enterprises have access to world-class, cost-effective IT infrastructure and cloud products, and through which clouds, networks and content companies service the Northern Virginia community,” Juan Font, the senior vice president of general management at CoreSite, said in an emailed statement to Commercial Observer.

He said that the data center will add “a unique community in which regional technology companies and enterprises with digital services can grow and scale rapidly.”

The company has another Reston campus with two buildings that are both about 90 percent occupied, according to Greer Aviv, CoreSite’s vice president of investor relations and corporate communications. In the first quarter of 2018, the company completed 26,413 square feet of rentable data center space on that site and it’s planning two additional phases of the project.